65: Rapyd CEO and Founder Arik Shtilman- building the AWS of FinTech
The idea for Rapyd was born when Arik Shtilman realized that there was no all-in-one financial services platform. Despite discovering the solution to this problem, the company failed to raise $3 million on just a $5 million valuation. Over $800 million in funding later, and with goals of becoming a $100 billion company, Rapyd is poised to be the platform upon which any FinTech solution can be built. Listen in as Arik challenges misconceptions around entrepreneurship and describes Rapyd’s astronomical growth. Here are some quick takeaways: Although online transactions have been occurring for decades, there still remains massive opportunity for disruptive innovation in this space Pitching a product to a customer and pitching the company’s vision to an investor are completely different- entrepreneurs fail when they use the same pitch for both audiences Raise capital when the market environment is right, not when you need it Fundraising is the most important skill for an entrepreneur